Enforcing Shareholders’ Duties
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Enforcing Shareholders’ Duties

Edited by Hanne S. Birkmose and Konstantinos Sergakis

A heavily debated topic, the evolution of shareholders’ duties risks the transformation of the very concept of shareholder primacy, crucially associated with shareholder rights. Offering a distinctive and comprehensive examination of both current and forthcoming enforcement mechanisms in the area of shareholder duties, this timely book provides an exhaustive analysis of the many issues related to these mechanisms, and considers the ongoing challenges surrounding their implementation.
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Chapter 9: Financial sanctions for breach of shareholders’ duties

Jennifer Payne and Elizabeth Howell


The focus in company law has traditionally been on shareholders’ rights rather than shareholders’ duties. While some forms of shareholders’ duties have existed for many years, this is an issue that has come to greater prominence recently. This is due to a number of factors, including a growing recognition of the need to hold institutional investors accountable to their underlying inves¬tors, a trend that is evident in recent amendments to the Shareholder Rights Directive,1 and also a recognition that corporations, and by extension their shareholders, should be held more accountable for the effect they have on soci¬etal issues such as environmental matters.

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